Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[goldkingcoiner]

This is a reasonable analysis.  Best watch out for our collision with the black long term trend line.  It won't be pretty.  



https://www.tradingview.com/chart/BTCUSD/sSbk3zPZ-Bitcoin-is-Quiet-A-Little-TOO-Quiet-if-You-Ask-Me-BTC/

Hi friends! Welcome to this update analysis on Bitcoin! Let's get right to it. Looking at the daily chart , you can see that the breakout of the large symmetrical triangle (in red) has failed to yield any real volatility . Instead, BTC -0.11% has morphed into another triangle formation (in blue,) as price continues to drift sideways. BTC -0.11% is almost at the apex of this blue triangle, so the triangle will only be in play for another 10 days or so.

If we look at the blue triangle's price action, to try to determine the most likely breakout direction, we can see that the bottom of the triangle has already been pierced on two separate occasions (pink circles.) Furthermore, the 50 EMA (in orange) has continued to provide powerful overhead resistance, as I had warned in my previous posts. Judging by these characteristics, it's clear that the highest probability direction is still sideways/lower. With that said, this is a situation where you definitely want to wait for a confirmation breakout, and some real volatility to emerge. Until we see something like that, sideways markets simply aren't a good place to trade.

There are some major things to watch out for though. On the upside, if we see a confirmed breakout above the 50 EMA and the top of the blue triangle, with a healthy volume spike, that would be a good sign for the bulls. Especially if price were to return to the top of the 50 EMA and hold it as support. That move in particular, is what I am watching for on the upside. If BTC -0.11% breaks above the 50, and then holds it as support, I will buy a subsequent bounce off of the 50, on nice volume .

On the downside, if we break down from the blue triangle, and begin to see some downside acceleration, I will short with a target at the rising black trendline . Ultimately, I believe that the most likely situation is that BTC -0.11% will continue to maintain it's low volatility state, as it drifts sideways to lower, until it runs into the black trendline . Some new future volatility would obviously change that perspective, but that is the most likely scenario at the moment.

On the MACD , there is something interesting to note. BTC's momentum just can't get above the zero line, which is a slightly bearish indication. It's interesting because the MACD's zero line is corresponding perfectly with the resistance provided by the 50 EMA . You can see that there is a long rising green support level on the MACD , and if momentum breaks below it, particularly with expanding momentum, that would be a nice sell signal.

Keep this in mind. If the buyers don't buy, the sellers WILL sell. The bulls can only run into that 50 EMA so many times, before the sharks jump in for some easy lunch. With that said, it's best to remain on the sidelines, until some real volatility begins to emerge.

I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

Very interesting analysis. Same thing I have been saying the last couple of days. Bitcoin could use some really good news and soon, otherwise we are going down into the dirt again.

via Imgflip Meme Generator

Sunday, alternative breakfast place, GF (@bob with fake nails )

But the coockies ..... like they knew which letters a want to watch @

pancakes looking a bit burnt there buddy

ain't no pancakes.... kind of bread in eggs....

"Pain perdu" !

does that mean burnt to shit in french?

[1657102700]

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[julian071]

Just finished cleaning my bike. Thank you Bitcoin! 

[xhomerx10]

via Imgflip Meme Generator

Sunday, alternative breakfast place, GF (@bob with fake nails )

But the coockies ..... like they knew which letters a want to watch @

 Looks like a hearty meal!  I really like the cookies - an essential part of a healthy lifestyle

[El duderino_]

Just finished cleaning my bike. Thank you Bitcoin! 

very cool bike i'm

drive safe on it

edit: dip as we speak, common btc boost a little bit into the other direction ..........

[xhomerx10]

Just finished cleaning my bike. Thank you Bitcoin! 

 Beautiful bike!  It looks like a really nice day where you are too!  Yesterday it was below °C in the morning and so windy that it tore my wife's shopping list from her grasp as we headed for the store and it was gone - I tried to catch it but I swear Usain Bolt himself wouldn't have stood a chance.  Now usually I don't like blustery days but I thanked that wind with all my heart because it saved me hundreds of dollars.  I've never seen my wife so quiet and subdued during a shopping expedition.  I almost felt bad for her but deep down I knew she was being quiet because she was concentrating on crafting her next shopping list; probably bigger and better than the one she lost to mother nature - one shopping list to rule them all!

[Elwar]

BTC crashing hard.

Was going to mention a huge buy wall at $6300 (usually a downward indicator) but forgot.

So ends bitcoin.

Was roach right all along? Time to read Mein Kempf?

[Phil_S]

6300 is the new 6400.

[julian071]

Just finished cleaning my bike. Thank you Bitcoin! 

 Beautiful bike!  It looks like a really nice day where you are too!  Yesterday it was below °C in the morning and so windy that it tore my wife's shopping list from her grasp as we headed for the store and it was gone - I tried to catch it but I swear Usain Bolt himself wouldn't have stood a chance.  Now usually I don't like blustery days but I thanked that wind with all my heart because it saved me hundreds of dollars.  I've never seen my wife so quiet and subdued during a shopping expedition.  I almost felt bad for her but deep down I knew she was being quiet because she was concentrating on crafting her next shopping list; probably bigger and better than the one she lost to mother nature - one shopping list to rule them all!

Hahaha great story! GL with the next shopping list....

And great find on the cookies. No sMerits to give out unfortunately.

[goldkingcoiner]

Just finished cleaning my bike. Thank you Bitcoin!  

very sexy

[serveria.com]

BTC crashing hard.

Wut? LMAO 

[Kylapoiss]

^
Almost wearing your HAT
 

30 to go, I really need to finish the poem, doesn't take too much time once I get into it, but getting into it is the problem. Even more so now when I'm sober. But I'll finish it and get what I deserve! Like discussed earlier, no life-changing technical analysis posts coming from me, we have Hairy for that.

F***ing Nice, time to wear YA HAT

Yeah, finally Logging in and seeing a 100 merits today was a nice surprise! Thanks xyzzy099, whoever you are

[BTCMILLIONAIRE]

" 20% of the British Population See Bitcoin as an Inevitability " https://www.ccn.com/20-of-the-british-population-see-bitcoin-as-an-inevitability/amp/?__twitter_impression=true

"87% Neutral or Negative on Subject of Non-Bank Currency"

Humans, the pinnacle of evolution.

[xyzzy099]

^
Almost wearing your HAT
 

30 to go, I really need to finish the poem, doesn't take too much time once I get into it, but getting into it is the problem. Even more so now when I'm sober. But I'll finish it and get what I deserve! Like discussed earlier, no life-changing technical analysis posts coming from me, we have Hairy for that.

F***ing Nice, time to wear YA HAT

Yeah, finally Logging in and seeing a 100 merits today was a nice surprise! Thanks xyzzy099, whoever you are

yw 

[El duderino_]

^
yeah nice to see that .........  cool one as well

[Kylapoiss]

^
yeah nice to see that .........  cool one as well

I finally feel like part of the family now, not a n00b anymore.

[Kylapoiss]

Just finished cleaning my bike. Thank you Bitcoin! 

Looks nice indeed. Just one small thing gets on the eye, that number plate on the back But yeah. it's illegal in most of the world to put it under the backseat.

[xhomerx10]

Your posts look pretty pretty good and the octosphincter is sated. Choose a picture you would want as an avatar and comrade homer might put it on a cap for you.

Thanks for your words.

Bright Orange Bitcoin logo in Royal Navy Blue hat will definitely make  my day.

https://en.bitcoin.it/wiki/File:BC_Logo_.png

Did I do it right?



Avatar-sized

[El duderino_]

^
when have you done one WRONG ??

[Last of the V8s]

Meanwhile in other fake news https://coingeek.com/former-blockstream-cto-gregory-maxwell-sees-light/ https://archive.is/aDswR
https://www.reddit.com/r/btc/comments/9vaqn4/guys_im_going_to_say_it_bitcoin_sv_is_an_attempt/ https://archive.is/bhanD

Gregory Maxwell, co-founder and former CTO of the Bitcoin Core (BTC) institution Blockstream, has had a change of heart. For reasons yet unknown, the crypto expert has come to the realization that Bitcoin SV is the real Bitcoin, and has even offered to lend a hand. He penned an email to Dr. Craig Wright of nChain and Bitcoin BCH development, in which he mentioned that he was prepared to offer his “discreet assistance.” Better late than never, it’s good to see that Maxwell has finally come around. Here is his email, formatted to make reading easier.

It's not a fake news.
Greg Maxwell has just confirmed it to Trustnodes
https://www.trustnodes.com/2018/11/11/gregory-maxwell-admits-he-emailed-craig-wright-to-offer-assistance

fake enough

lol what.  Craig Wright and Roger Ver are both conmen. Coingeek is a conman shilling platform,  and their claim that [I have] "come to the realization that Bitcoin SV is the real Bitcoin," is malicious whole cloth fabrication.  Now, Is "Bitcoin SV" the real fake bitcoin (bch)?  Maybe but who cares.
I think it's unfortunate that Wright's over the top mania is causing dissension in his bamboozled army, as having a scam run by an obvious scammer is a win-win... but it seems that there is nothing to be done for it now, the psychosis is just too strong now.(my emphasis)

[Bitcoinaire]

Bitcoin's 3 day awesome indicator bullish divergence is still very intact. Compare!





https://twitter.com/drei4u/status/1061628042378788865